Stainless steel scrap market demand continues to waver in the United States heading into year-end, further weighing on prices. "There is no energy in this market and no one seems to be interested in moving to buy material... We just keep drifting down [on prices]," one US dealer source said. "Still cautious with mill discounting very aggressive into the end of the year inventory reduction pro...Read More
The Turkish steel mills continued their silence in the deep-sea scrap markets for another day on Wednesday November 14, because of a softening rebar market and increasing scrap supply in Europe, Fastmarkets was told.After booking two cargoes from the United States late last week, Turkish mills paused their purchases. Meanwhile, rebar prices have shown a downturn with news of recent sales at $506-5...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 point in pre-opening trade.Brrrrr, it's cold out there! It snowed in our neighborhood last night. The spot price for Natural gas jumped $0.55 to $4.65 per MBtu in overnight trading. As the expression goes, "Buy (equities) when it snows, sell when it goes".Index futures moved slightly higher following release of the...Read More
Iron ore prices were mixed on Wednesday November 14 with supply tightness and higher premiums reported for December-arrival Pilbara Blend fines.MB 62% Fe Iron Ore Index: $75.91 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.71 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.25 per tonne cfr Qingdao, up $0.53 per tonne.MB 58% F...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Global Ore,...Read More
Vietnam, a major consumer of scrap in Asia, has purchased at least 30,000 tonnes of Japanese H2 materials this week.Deals involving at least two bulk shipments bound for southern Vietnam were heard concluded around $329-330 per tonne cfr Vietnam.This suggests that fob Japan prices have fallen further from last week's level of ?34,700-35,000 ($305-307) per tonne after a tender held by the Kanto Te...Read More
The seaborne coking coal market remained steady on Wednesday November 14 with offers being issued at prevailing levels.Top Australian brands were still offered around $220-224 per tonne cfr China during the day while offers for two different second-tier products were made around $208-209 per tonne cfr China, according to various market sources."Both sellers and buyers are happy with the current ma...Read More
China's ferrous futures rose across the board during morning trading on Wednesday November 14, following the release of data showing higher-than-expected industrial output in October.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,926 yuan ($564) per tonne, up 57 yuan per tonneJanuary hot-rolled coil: 3,617 yuan per tonne, up 34 yuan per tonneDalian Commodity Ex...Read More
It's your patriotic duty, neigh privilege, to pay your taxes! Yeah, we don't believe that either. The myth of the "kinder, gentler" IRS has been tossed around for decades now, and President Trump would like to do away with IRS all together.There are two months left in 2018 and before you know it, April 15, 2019 will be here. Have you started prepping your 2018 tax return?You might be wondering why...Read More
For Halloween this year both of my daughters went as students of the Hogwarts School of Witchcraft and Wizardry.That is from the world of Harry Potter in case you aren’t familiar.In my house we are very familiar with Hogwarts... Both of my kids are obsessed with the books.I love that Harry Potter has helped develop a passion for reading in an era were so many children are permanently glued t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Calgary, Alberta (November 14, 2018) - PRIZE MINING CORPORATION ("Prize" or the "Company") (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that the first four drill holes at the Manto Negro Copper Project in Coahuila State, Mexico have returned consistent widths and grades of copper-silver mineralization. In addition, continued surface channel sampling has extended the potent...Read More
Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Wednesday November 14, with the three-month copper price down by 0.1% at $6,040 per tonne. This after Tuesday's energetic start that saw the red metal reach $6,181 per tonne at one point. Three-month nickel, lead and zinc were down by 0.2%, 0.3% and 1% respectively on the LME this morning, while three...Read More
Kirkland Lake, Ontario - November 13, 2018 - RJK Explorations Ltd. (“RJK” or the “Company“) (TSXV: RJX.A) is pleased to announce that it has commenced a drill program on its Rolling Pond epithermal gold property located in the Moosehead Trend of Central Newfoundland. The drill contract was been awarded to Cartwright Drilling Inc. based in Goose Bay, Labrador and consists...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 14.Base metals prices on the Shanghai Futures Exchange weakened during Asian morning trading on Wednesday, with the release of lackluster Chinese data failing to offset the downward pressure being exerted by a strong dollar.Check Fastmarkets MB's live futures report here.Opt...Read More
Optimism continued to grow among copper market participants in the United States over the outlook for the domestic copper cathode premium following a key industry meeting this past week, with many attendees predicting a higher premium for next year.Elsewhere, Shanghai copper premiums continued to soften while the Chinese market contends with a closed import arbitrage window, while a backwardation...Read More
Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.The Austrian company reported a decline of 11.2% in earnings before interest, taxes, depreciation and amortization (Ebitda) over April-September 2018, the first half of its financial year, to ?,?860 million ($969 million). This compared with...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalNew Energy brings experience to new dawnSPONSOREDnew energy mineralsBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesA trough, by the way, could be nothing like the chasm into which we were dropped...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday November 14:Aluminium scrapCommercial pure cuttings: ?1,035-1,065 per tonne from ?1,080-1,110Clean HE9 extrusions: ?1,330-1,380 per tonne from ?1,360-1,410Loose old rolled cuttings: ?730-760 per tonne from ?750-780Baled old...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalNew Energy brings experience to new dawnSPONSOREDnew energy mineralsBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesLife, as far as I have ever been able to deduce, is much like that old quote abo...Read More